Aclarion Terminates Sales Agreement with Ascendiant Capital Markets, LLC

Aclarion, Inc. (NASDAQ: ACON) has announced the termination of the At-The-Market Issuance Sales Agreement with Ascendiant Capital Markets, LLC. The termination notice was given on January 3, 2025, and is effective immediately.

Under the Sales Agreement entered into on September 24, 2024, Aclarion had the authority to sell shares of its common stock, with a par value of $0.00001 per share, totaling up to $10 million. This was facilitated through an “at the market offering,” as delineated in Rule 415 under the Securities Act of 1933. With the termination in effect, the “at the market” offering provision is no longer accessible. During the period covered by the Sales Agreement, Aclarion successfully sold 1,606,211 shares of its Common Stock, bringing in aggregate gross proceeds of approximately $0.3 million.

Aclarion previously filed a copy of the Sales Agreement as Exhibit 1.1 to its Current Report on Form 8-K on September 24, 2024. It is crucial to note that the summary of the Sales Agreement presented in the latest Form 8-K is not exhaustive and is subject to the details outlined in the original Sales Agreement filed as Exhibit 1.1 to the prior Form 8-K.

As per regulatory requirements specified in the Securities Exchange Act of 1934, this report has been signed on behalf of Aclarion, Inc. by John Lorbiecki, the Chief Financial Officer.

This termination of the Sales Agreement marks a strategic decision by Aclarion, reflecting potential shifts in the company’s financing or growth strategies moving forward. Investors and stakeholders will likely keep a close eye on Aclarion to track any subsequent developments following this significant update.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Aclarion’s 8K filing here.

About Aclarion

Aclarion, Inc, a healthcare technology company, leverages for Magnetic Resonance Spectroscopy (MRS) in the United States. It develops NOCISCAN Post-Processor suite of software applications comprising NOCICALC that receives the raw un-processed NOCISCAN MRS exam data and post-processes that raw data into final spectra and performs various degenerative pain biomarker; and NOCIGRAM, a clinical decision support software.